Europe
NIG raids Zurich for new key accounts head
NIG has appointed Chris Woollam as head of key accounts.
Irish government to offload health insurer
The Irish Government has revealed it is to sell state-owned medical insurer VHI after injecting capital into the state owned firm.
Ageas reduces Southern European exposure with EUR 4.8bn sell off
Ageas has reported that between 10 May and 21 May it has sold additional Southern European government bonds for a total amount of EUR 4.8bn (at historical/amortized cost).
Aviva hires M&A director from Morgan Stanley
Aviva has appointed Jason Windsor as group strategy director, responsible for leading the strategy and M&A teams at Aviva.
Lloyd's insurer closes in on KGM
The largest privately owned Lloyd's insurer Canopius has emerged as a leading contender to acquire up-for-sale motor underwriter KGM.
Willis raids RSA for Russia and Middle East boss
Willis Group has appointed Scott Pickering CEO, Russia, Eastern Europe, the Middle East and South Africa, effective immediately.
PWC predicts M&A to pick up in Spanish financial services market
The rescue of CajaSur is likely to spark a wave of mergers in the Spanish financial services market as the Spanish Government pushes forward with its plans to merge those institutions to strengthen the market.
Irish regulator warns of post-crisis surpervisory scepticism
The Financial Regulator, Matthew Elderfield, has warned Irish insurers that he will be more interventionist, rather than wait for a market failure to manifest itself and then cautiously weigh up the costs and benefits of a response.
Lloyd's: Deepwater and Chilean earthquake bill could top $2bn
Lloyd’s announced today that it estimates its net claims before tax from the earthquake in Chile to be in the order of US$1.4bn.
CEA welcomes EU/US Japan Post Insurance talks
The European insurance and reinsurance federation, CEA, has welcomed joint EU and US effort to address the Japanese government’s preferential treatment of Japan Post Insurance.
Ex Zurich boss named Italian CEO
Francesco La Gioia has been appointed the new CEO of Helvetia Italy.
QBE Europe names new legal head
QBE Europe has appointed Esther Felton as head of legal for its European operations as part of an ongoing drive to develop its dedicated in-house legal capabilities.
Europ Assistance reports 44% hike in net profit
Europ Assistance Group has reported turnover in 2009 of €1.288bn, up by 6.6% compared with 2008 (+7.6% in constant euros).
Brit appoints Gibraltar boss
Brit Insurance has promoted Andrew Cunningham to head of office for its Gibraltar operations.
CNA brings business under one roof
CNA Insurance Company has moved its European headquarters and London market operations to the London Underwriting Centre at Minster Court.
Munich Re most protected from earning volatility claims Fitch
The recent capital markets crisis has created considerable challenges for European reinsurers seeking to minimise the volatility seen in their financial results over the past few years, according to Fitch Ratings.
Casualty manager joins Liberty's Germany operation
Liberty International Underwriters in Europe has appointed Michael Weesbach as casualty manager for its operations in Germany.
Quinn job cuts look set to be minimised by large voluntary take up
The administrator of Quinn Insurance has received 700 applications for voluntary redundancy according to weekend reports.
Quinn administrator denies conflict of interest over debtor
Quinn Insurance administrator Michael McAteer denied there was a conflict of interest in his involvement with another firm that owed Quinn millions.
Finnish insurer latest to be linked with Quinn bid
Anglo Irish Bank is in talks with Finnish insurance group Sampo, about a takeover of troubled Quinn Insurance.
Former EU ambassador chosen to lead new Irish financial services push
Ireland’s international financial services industry, in a private sector initiative, has announced its intention to create the role of chairman of IFSC Ireland.
Insurer issues warning over GI premium growth
Danish insurer Topdanmark has recorded a post-tax profit increase of DKK 268m in Q1 2010 from DKK 35m in Q1 2009.
Danish insurer slips into the red in Q1
Danish insurer Trygvesta has reported a loss of DKK -354m (2009 Q1: DKK 437m) in the first quarter of 2010.
Brit Insurance names new Netherlands chief
Brit Insurance has appointed Ferdinand Voskens general manager for its Netherlands head office.